Last $3.39 USD
Change Today -0.01 / -0.29%
Volume 171.0K
ERII On Other Exchanges
As of 8:10 PM 02/27/15 All times are local (Market data is delayed by at least 15 minutes).

energy recovery inc (ERII) Snapshot

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52 Week High
03/6/14 - $6.98
52 Week Low
02/2/15 - $3.22
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energy recovery inc (ERII) Related Businessweek News

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energy recovery inc (ERII) Details

Energy Recovery, Inc. designs, develops, and manufactures energy recovery devices (ERDs) that transform untapped energy into reusable energy from industrial fluid flows and pressure cycles. The company’s products include PX ERDs and turbochargers for water desalination; AT and Halo turbochargers for low-pressure brackish and high-pressure seawater reverse osmosis systems; Pressure Exchanger energy recovery devices and turbochargers; and high-pressure pumps under the trademarks of AquaBold and AquaSpire. It also offers energy recovery systems comprising turbines and industrial pumps, as well as PX devices; and lsoGen systems that enable oil and gas operators to capture hydraulic energy and generate electricity from high-pressure fluid flows. In addition, the company provides engineering, technical support, and training services; and preventive maintenance and support services, as well as replacement parts and reinstallation services. It serves engineering, procurement, and construction firms that design and build large desalination plants; and original equipment manufacturers, as well as exploration and production companies. The company markets its products directly to customers through its sales organization, as well as through authorized independent sales agents in the United States and internationally. Energy Recovery, Inc. was founded in 1992 and is headquartered in San Leandro, California.

118 Employees
Last Reported Date: 11/10/14
Founded in 1992

energy recovery inc (ERII) Top Compensated Officers

Chief Executive Officer and President
Total Annual Compensation: $420.0K
Chief Technology Officer
Total Annual Compensation: $242.0K
Chief Marketing Officer
Total Annual Compensation: $237.0K
Compensation as of Fiscal Year 2013.

energy recovery inc (ERII) Key Developments

Brower Piven Announces Commencement of a Class Action Lawsuit in the United States District Court for the Northern District of California Against Energy Recovery, Inc

Brower Piven announced that a class action lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of purchasers of Energy Recovery, Inc. securities during the period between March 14, 2012 and January 13, 2015, inclusive. Investors who wish to become proactively involved in the litigation have until March 23, 2015 to seek appointment as lead plaintiff. The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants failure to disclose during the Class Period that its Chief Sales Officer/Senior Vice President of Sales had breached a duty of trust and engaged in conduct which created a conflict of interest with the Company. According to the complaint, following the Company's September 11, 2014 announcement that it had terminated the employment of its Senior Vice President of Sales, Borja Sanchez-Blanco after the Company became aware that he had breached a duty of trust and engaged in conduct which created a conflict of interest with the Company over the course of several years and following the January 13, 2015 announcement that Thomas S. Rooney, Jr. had resigned as Chief Executive Officer, the value of Energy Recovery shares declined significantly.

Energy Recovery Appoints Two New Members to Board of Directors

Energy Recovery Inc. announced the appointments of Mr. Ole Peter OP Lorentzen and Mr. Alexander J. Buehler to its Board of Directors effective February 6, 2015. The addition of Messrs. Lorentzen and Buehler increases the number of directors on the Board to nine, following the resignation of Mr. Thomas S. Rooney, Jr. on January 13, 2015. Ole Peter Lorentzen is the Chairman and beneficial owner of Ludvig Lorentzen. Alexander J. Buehler currently serves as the Chief Financial Officer of Energy Maintenance Services.

Energy Recovery Wins $2 Million in Orders

Energy Recovery announced that it has received awards for projects using its PX Pressure Exchanger Technology. The two orders are expected to total more than $2.0 million. The first project is 45 PX-Q300's for a municipal desalination project for Veolia, a French transnational company with activities in four main service and utility areas traditionally managed by public authorities-water supply and management, waste management, and energy and transport services. The second is with Metito, a leader in water management solutions with a global project portfolio in excess of $1 billion. The desalination plant is located in Egypt and provides more than 11 million gallons of fresh water per day.


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Price/Book 2.4x
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